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JD stock gains after the Chinese e-commerce giant reported earnings

Yahoo Finance's Akiko Fujita discusses how JD.com stock is performing after the company reported earnings.

Video Transcript

BRIAN CHEUNG: The third Michael. That was the third one.

AKIKO FUJITA: The third Michael of the day.

BRIAN CHEUNG: Michael power hour.

AKIKO FUJITA: The last Michael, we should say. Maybe there will be more tomorrow.

BRIAN CHEUNG: Why, there's 20 minutes of the show. I mean, we could surprise some people.

AKIKO FUJITA: Let's talk about a trending ticker that we are watching right now. Its low expectations are helping to lift shares of JD. We are seeing that stock pop about 2.7%, despite the Chinese e-commerce giant posting its slowest quarterly revenue growth on record. Revenue slowed to 18% growth as consumers pulled back on spending during COVID lockdowns that still beat Wall Street estimates. JD CEO saying the latest COVID infections in China have affected consumer confidence and income. And of course, we saw yesterday China's retail sales falling 11% last month.

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